The option term lasts from 24 to 60 months depending on the size of the project and the grid connection. The landowner is paid during this time, usually in annual installments. Once the grid studies have been completed and permits obtained, construction lasts from 6 to 24 months.
The current operating ground lease is for 30 to 40 years with extensions up to 50 years in length. This agreement can easily be converted to a purchase option if that is preferrable to a lease.
Once the project is completed, the operator restores the project site to its original condition, removing all equipment and structures. The lease provides a mechanism of surety to pay for this function at lease end.
It usually takes a couple of weeks to perform the initial due diligence and make an offer. The most important feature is the ability to interconnect followed by resource and build-ability. The grid studies take 2-5 years to complete. The projects operate for 40-50 years.
Single axis trackers can occupy up to 6 acres per megawatt, this is usually the most efficient use of undeveloped land. We like to start at 100 acres which are generally considered Large Generators. Contact us for more information on whether your property is suitable for solar.
Lease rates for large projects are currently starting above $500 per acre in most US markets and increase based on resource, interconnection and site characteristics. We don't interfere with mineral rights but we do need to obtain a waiver to build.
Our projects are supported by US Commercial Banks and Fortune 100 Companies who are active in the financing of large energy projects involving the syndication of US Tax Equity.
Our projects provide owners with long-term, reliable cash flows. Our development teams are among the best funded and most experienced in the industry.
As developers, we have decades of experience working with landscapes and landowners. The nuances of development: from entitlements to permitting and where to get the best lunch in town. We become part of the communities we work in and we love what we do.
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